Courtyard by Marriott - MS

Property Description: Award Winning Courtyard by Marriott hotel offered close to corporate demand plus new developments in the area. The 111 Key Courtyard by Marriott was recently renovated at a cost of $1 million including new guest room flooring, wall coverings, and softgoods. Excellent guest reviews. 95% of guests recommend this hotel. Very strong revenue is nearly $28,000 per key. $3,100,000 total revenue in 2018. Strong net operating income is 37% of revenue, before management fee and FF&E reserve. NOI in 2018 was $1,160,000. Equals very strong net cash flow after debt. New developments in leisure and new corporate and manufacturing expansions are increasing demand. Buyer can improve the on-site restaurant and capitalize on the restaurant to increase total revenues. 2020 revenue is projected over $3,250,000. This is a great opportunity to acquire a Marriott brand hotel and to continue growing revenues.